Despite Trump’s conviction for embezzlement, Wall Street billionaires are still showing support for his presidential campaign with significant donations. This is in contrast to Joe Biden’s policies, making Trump a more favorable candidate for the financial elite. Some of the financial elite who support Trump are long-time Republican financiers, attracted by his promised tax relief and looser regulations. Others are reluctantly supporting him due to financial reasons.
There is speculation about members of the financial elite potentially taking on positions in the Trump administration. While some members of the financial community are confused by Trump’s support, they believe he has a good chance of winning. The financial elite is eager to support Trump early on in hopes of securing favorable outcomes for their interests.
Despite initial criticism of Trump, some CEOs and influential individuals in the financial world have shown support for him. Some billionaires claim that their support is also driven by concerns about anti-Semitism tolerated among the Democrats. For some billionaires, Trump is seen as a lesser evil compared to Biden, prompting their support.
The verdict did not deter Wall Street billionaires from continuing to group together and contribute to Trump’s campaign with donations, which increased significantly after the verdict with smaller donors also contributing. Even after the verdict, the support for Trump among the financial elite remains strong as they see him as a better option for their interests than Joe Biden.
